Hong Kong Securities Clearing Company Limited
HKICL provides interbank clearing and settlement services to all banks in Hong Kong and operates a central clearing and settlement system for public and private debt securities on behalf of the HKMA. Sometimes entities appear to target Hong Kong investors whilst not having been licensed to carry out regulated activities in Hong Kong. They often adopt names similar to legitimate financial institutions to confuse investors. Alternatively, such unlicensed entities may provide financial investment trading platforms on the Internet. With respect to OCC's overall liquidity plan, the Non-Bank Liquidity Facility program reduces the concentration of OCC's counterparty exposure by diversifying its base of liquidity providers among banks and non-bank, non-Clearing Member institutional investors, such as pension funds or insurance companies. Between 11 January 2008 and 7 April 2008, HKEX launched a consultation paper proposing changes to the Listing Rules "to address 18 substantive...